Xponance Inc. Raises Stake in Concentrix Co. (NASDAQ:CNXC)

Xponance Inc. increased its stake in Concentrix Co. (NASDAQ:CNXC) by 8.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,540 shares of the company’s stock after purchasing an additional 455 shares during the quarter. Xponance Inc.’s holdings in Concentrix were worth $240,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC increased its holdings in Concentrix by 81.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 638 shares of the company’s stock valued at $28,000 after buying an additional 286 shares in the last quarter. Venturi Wealth Management LLC increased its stake in Concentrix by 159.6% in the 4th quarter. Venturi Wealth Management LLC now owns 797 shares of the company’s stock valued at $34,000 after purchasing an additional 490 shares in the last quarter. Parkside Financial Bank & Trust raised its holdings in Concentrix by 58.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,201 shares of the company’s stock worth $52,000 after purchasing an additional 444 shares during the last quarter. KBC Group NV boosted its position in Concentrix by 68.3% during the fourth quarter. KBC Group NV now owns 2,008 shares of the company’s stock worth $87,000 after purchasing an additional 815 shares in the last quarter. Finally, Quest Partners LLC acquired a new stake in Concentrix in the third quarter valued at $146,000. Institutional investors and hedge funds own 90.34% of the company’s stock.

Insider Activity at Concentrix

In other Concentrix news, EVP Cormac J. Twomey sold 500 shares of Concentrix stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $55.60, for a total value of $27,800.00. Following the completion of the sale, the executive vice president now owns 41,111 shares in the company, valued at $2,285,771.60. The trade was a 1.20 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CNXC. Canaccord Genuity Group cut their price target on Concentrix from $100.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Bank of America upped their price target on shares of Concentrix from $58.00 to $59.00 and gave the company a “neutral” rating in a report on Thursday. Finally, Barrington Research lowered their price target on shares of Concentrix from $70.00 to $54.00 and set an “outperform” rating on the stock in a research report on Monday, March 24th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $69.60.

Concentrix Trading Down 12.4 %

Shares of CNXC stock opened at $56.95 on Friday. The company has a market capitalization of $3.66 billion, a price-to-earnings ratio of 15.35, a PEG ratio of 0.63 and a beta of 0.69. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.17. The firm has a 50-day moving average price of $48.06 and a 200 day moving average price of $47.75. Concentrix Co. has a twelve month low of $36.28 and a twelve month high of $77.00.

Concentrix (NASDAQ:CNXC) last announced its quarterly earnings data on Wednesday, March 26th. The company reported $2.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.58 by $0.21. The business had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.37 billion. Concentrix had a net margin of 2.61% and a return on equity of 16.67%. The company’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.57 earnings per share. Research analysts forecast that Concentrix Co. will post 10.11 earnings per share for the current fiscal year.

Concentrix Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 6th. Stockholders of record on Friday, April 25th will be issued a dividend of $0.3328 per share. This represents a $1.33 annualized dividend and a dividend yield of 2.34%. The ex-dividend date is Friday, April 25th. Concentrix’s dividend payout ratio (DPR) is 35.85%.

Concentrix Profile

Concentrix Corporation engages in the provision of technology-infused customer experience (CX) solutions worldwide. The company provides CX process optimization, technology innovation, front- and back-office automation, analytics, and business transformation services, across various channels of communication, such as voice, chat, email, social media, asynchronous messaging, and custom applications.